Current news & Rumours in the mkt
- Thread starter praveen taneja
- Start date
Aban Offshore Ltd has informed BSE that a Letter of Award has been received from a leading exploration & production Company for the deployment of the jack-up rig Deep Driller 1 offshore India for a firm period of 1 year plus two optional periods of 6 months each. The estimated revenues from the firm period of the deployment is about USD 41 million (equivalent to Rs. 185 Crores).
■Why the Guaranteed NAV Plans stress over number 7 ? Someone asked me this question and my views were that the stock markets in India has been running in a 8 yrs cycle from last some decades, so after this recent crash, another big crash is expected to be after 7-8 yrs now. So they want to make sure they are giving investors “highest NAV in 7 yrs” which will be the maximum point in coming 10-11 yrs assuming markets do crash after 7-8 yr and then stay below that point for another 2-3 years . 8 Year cycle Trend : Sensex is following an eight year cycle trend. The break of the channel lines in 1992 saw the index correcting over 53%. After eight years in 2000, the index once again fell into the grip of bearish cycle and corrected over 57%. In 2008, the faced the similar fate. Breaking the long term rising channel, the index once again echoed the similar trend and has shed more than 63.7% of its weights from the top
The Welspun Group plans to raise $150-200 mn via structured finance, private equity placement or similar instruments.
The group is in discussion with PE firms to sell stake in one of its unlisted entities which will up a steel slabs plant and a captive power unit.
The new facility and the supporting power plant are expected to cost around $800 mn, of which around $300 mn will be funded through equity and the balance will be debt.
London-based I- Banking firm Euromax Capital is advising the company on the fund raising plan.
The group is in discussion with PE firms to sell stake in one of its unlisted entities which will up a steel slabs plant and a captive power unit.
The new facility and the supporting power plant are expected to cost around $800 mn, of which around $300 mn will be funded through equity and the balance will be debt.
London-based I- Banking firm Euromax Capital is advising the company on the fund raising plan.
India's top privately run refiner Reliance Industries will not renew a contract to import crude oil from Iran for financial year 2010, two sources familiar with the supply deal said on Thursday.
The company did not purchase any crude from Iran in February and March, the sources said.
Reliance did not respond to Reuters inquiries on the move, while Iranian officials declined to comment.
Reliance, which operates the world's biggest refining complex, purchased 90,000 barrels per day (bpd) of crude from Iran in 2009.
It is not immediately clear why Reliance is not renewing its annual import deal with the world's fifth-largest oil exporter but traders said it could be due to disagreement over prices at a time the refiner has easy access to other competitive grades.
Political pressure from the United States and its allies, who are seeking to force Iran to stop its nuclear programme with a tougher sanctions regime, may be another reason, traders said.
Reliance's sophisticated refining complex at Jamnagar in the western Indian state of Gujarat can process 1.24 million bpd of crude as diverse as light West African to the heavy sour Middle Eastern grades
The company did not purchase any crude from Iran in February and March, the sources said.
Reliance did not respond to Reuters inquiries on the move, while Iranian officials declined to comment.
Reliance, which operates the world's biggest refining complex, purchased 90,000 barrels per day (bpd) of crude from Iran in 2009.
It is not immediately clear why Reliance is not renewing its annual import deal with the world's fifth-largest oil exporter but traders said it could be due to disagreement over prices at a time the refiner has easy access to other competitive grades.
Political pressure from the United States and its allies, who are seeking to force Iran to stop its nuclear programme with a tougher sanctions regime, may be another reason, traders said.
Reliance's sophisticated refining complex at Jamnagar in the western Indian state of Gujarat can process 1.24 million bpd of crude as diverse as light West African to the heavy sour Middle Eastern grades
Here It Is, The China Gold Rush Story Bulls Are Throwing Around
http://www.businessinsider.com/here-it-is-the-china-gold-rush-story-bulls-are-throwing-around-2010-3
http://www.businessinsider.com/here-it-is-the-china-gold-rush-story-bulls-are-throwing-around-2010-3
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